Review this weeks reading in particular the Zambian Revenue Authority note on Pay As You Earn. Review the examples so that you understand how the calculation of tax and emoluments from earnings is calculated. Below is a chart showing as of 2019 what the Zambian monthly income bands are and the applicable tax rates. Zambia Monthly Income Bands (2019): Tax Rates (%) K0 to K3,300 0 K3,300.01 to K4,100 25 K4,100.01 to K6,200.01 30 Above K6,200.01 37.5 Do you agree with these bands and rates? If you were in charge would you make any adjustments to either the band ranges or to the tax rates for each band? If so, what adjustments would you make and why? Be specific as to your goal in making adjustments, is it to raise more money for the government for specific purposes, to lower the tax burden for certain income groups or what.
Review this weeks reading in particular the Zambian Revenue Authority note on Pay As You Earn. Review the examples so that you understand how the calculation of tax and emoluments from earnings is calculated. Below is a chart showing as of 2019 what the Zambian monthly income bands are and the applicable tax rates. Zambia Monthly Income Bands (2019): Tax Rates (%) K0 to K3,300 0 K3,300.01 to K4,100 25 K4,100.01 to K6,200.01 30 Above K6,200.01 37.5 Do you agree with these bands and rates? If you were in charge would you make any adjustments to either the band ranges or to the tax rates for each band? If so, what adjustments would you make and why? Be specific as to your goal in making adjustments, is it to raise more money for the government for specific purposes, to lower the tax burden for certain income groups or what.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Review this weeks reading in particular the Zambian Revenue Authority note on Pay As You Earn. Review the examples so that you understand how the calculation of tax and emoluments from earnings is calculated. Below is a chart showing as of 2019 what the Zambian monthly income bands are and the applicable tax rates.
| Zambia Monthly Income Bands (2019): | Tax Rates (%) |
|---|---|
| K0 to K3,300 | 0 |
| K3,300.01 to K4,100 | 25 |
| K4,100.01 to K6,200.01 | 30 |
| Above K6,200.01 | 37.5 |
Do you agree with these bands and rates? If you were in charge would you make any adjustments to either the band ranges or to the tax rates for each band? If so, what adjustments would you make and why? Be specific as to your goal in making adjustments, is it to raise more money for the government for specific purposes, to lower the tax burden for certain income groups or what.
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